Jonathan Durrant - Xceed Real Estate

🏡 Perth homes took nine days to sell in February, stretching out to 14 days by May yet prices still climbed.

REIWA reports the median house price rose 2.2% in May to $920,000, while units increased 2.3% to $660,000. Annual growth now sits at 16.5% for houses and 22% for units.

What’s changing? Listings have pushed past 5,000 for the first time since November 2024 a 20.7% increase year‑on‑year. With more choice and three consecutive rate rises, buyers are taking a more measured approach.

REIWA President Suzanne Brown says this slowdown shouldn’t be mistaken for a downturn: “Moving from just over a week to two weeks to sell a property does not represent a downturn”. She also noted that the same pattern appeared last year before tightening stock levels reignited strong activity in the second half.

At suburb level, conditions vary widely Nollamara and Coolbellup are still selling in six days, while other areas have eased.
On the rental front, house and unit rents held steady in May at $750 and $700. Suzanne also warned that proposed changes to negative gearing and CGT could discourage investment, with REIA modelling suggesting rents could rise $9 per week over four years, far above the government’s $2 estimate.

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🏡 Viewings this weekend

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You dont often get two chances in life… if you second guessed the first time, make sure not to miss out on the opportunity this time round!

🏡 21 Jedburgh Loop, Sinagra

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JUST SOLD

🏡 55/103 Harold Street Highgate

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JUST SOLD

🏡 41B Blackrock Avenue Butler

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🏡 COMING SOON in Subiaco

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UNDER OFFER

🏡 39 Bethwyn Circuit Madeley

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Happy Mother’s Day to my beautiful wife and all the mother’s out there. Wishing you a day filled with love💐